The fix is in. During the Thanksgiving holiday, the Biden administration announced it was quietly reversing policy and allowing limited petroleum imports from Venezuela. The Treasury Department lifted restrictions permitting a six-month deal to ease sanctions so that Chevron petroleum may buy and then ship Venezuelan crude oil to American refineries.
So, while Americans were celebrating with Thanksgiving turkey, and distracted from political events, the people were being played for political turkeys. So why the quiet but significant policy change? And moreover, why does the Biden administration wish to resume petroleum purchases from one of Latin America's most brutal and corrupt dictatorships?
Well, much of this is about, you guessed it, Russia. Since the US fortunately stopped buying Russian oil this year, there have been considerable shortfalls in the American energy supply. Why? Quite simply because the US is foolishly and willfully reducing its domestic petroleum production while at the same time seeking new foreign sources. Venezuela has one of the world's largest petroleum reserves and used to pump up to three million barrels per day, so logically why not go there? In the past, Venezuela was a major US petroleum supplier.
